MacroGenics, Inc. (MGNX) Price Target Increased to $22.00 by Analysts at Citigroup Inc.

MacroGenics, Inc. (NASDAQ:MGNX) had its target price hoisted by Citigroup Inc. from $18.00 to $22.00 in a research report sent to investors on Friday morning. They currently have a neutral rating on the biopharmaceutical company’s stock.

Several other research firms also recently commented on MGNX. Zacks Investment Research raised shares of MacroGenics from a sell rating to a hold rating in a report on Tuesday, October 10th. Cowen and Company reaffirmed a buy rating on shares of MacroGenics in a research note on Wednesday, October 25th. Wedbush reaffirmed an outperform rating and set a $44.00 price target on shares of MacroGenics in a research note on Monday, September 11th. BidaskClub downgraded shares of MacroGenics from a sell rating to a strong sell rating in a research note on Saturday, August 12th. Finally, Morgan Stanley decreased their price target on shares of MacroGenics from $22.00 to $21.00 and set an equal weight rating on the stock in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $30.10.

MacroGenics (NASDAQ MGNX) traded up $1.06 during mid-day trading on Friday, hitting $18.68. 285,600 shares of the stock traded hands, compared to its average volume of 261,654. MacroGenics has a 1 year low of $14.36 and a 1 year high of $31.85.

MacroGenics (NASDAQ:MGNX) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.19). MacroGenics had a negative return on equity of 69.31% and a negative net margin of 1,526.55%. The company had revenue of $1.70 million during the quarter, compared to analysts’ expectations of $5.50 million. During the same period last year, the firm posted ($0.97) EPS. MacroGenics’s quarterly revenue was down 48.5% compared to the same quarter last year. research analysts expect that MacroGenics will post -2.34 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was originally published by Markets Daily and is the property of of Markets Daily. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.themarketsdaily.com/2017/11/14/macrogenics-inc-mgnx-price-target-increased-to-22-00-by-analysts-at-citigroup-inc.html.

In other MacroGenics news, SVP Jon Marc Wigginton sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $20.00, for a total transaction of $200,000.00. Following the transaction, the senior vice president now owns 40,000 shares in the company, valued at $800,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 8.30% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. bought a new position in MacroGenics during the second quarter valued at $133,000. Legal & General Group Plc increased its position in MacroGenics by 4.3% during the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock valued at $138,000 after acquiring an additional 328 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of MacroGenics by 92.2% in the second quarter. SG Americas Securities LLC now owns 10,812 shares of the biopharmaceutical company’s stock worth $189,000 after purchasing an additional 5,187 shares during the last quarter. Parametric Portfolio Associates LLC bought a new position in shares of MacroGenics in the second quarter worth about $203,000. Finally, Virtu KCG Holdings LLC bought a new position in shares of MacroGenics in the second quarter worth about $232,000. Institutional investors and hedge funds own 84.72% of the company’s stock.

About MacroGenics

MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.

Analyst Recommendations for MacroGenics (NASDAQ:MGNX)

Receive News & Ratings for MacroGenics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply